Monday, Apr. 17, 2017

Odebrecht ordered to pay $2.6 billion to settle bribe probe

By The Associated Press

NEW YORK (AP) — Brazilian construction conglomerate Odebrecht has been ordered to pay $2.6 billion in fines to settle charges it bribed officials in a dozen countries.

The payout ordered by Judge Raymond Dearie in New York City came after a plea agreement was reached in December.

In a Brooklyn federal court proceeding Monday lasting only a few minutes, Dearie imposed the terms of the December deal between the company and prosecutors.

As a result, Odebrecht will pay nearly $2.4 billion to Brazil, $116 million to Switzerland and $93 million to the United States. The company will also retain an independent compliance monitor.

In December, Odebrecht apologized for its involvement in corruption scandals that led to the arrest of its former chief executives and several of its officials.

2017-04-17 19:36:14 GMT

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